AdvEn Inc. & AdvEn Industries Inc.
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- Proceeding
- NOIsection 50.4(9) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3
- File
- 24-3400057
Filings held24
Last activity18 Sep 2026
On the record63 days
Secured debt$10.5M
OverviewSummary updated
AdvEn Inc. and AdvEn Industries Inc. filed a notice of intention on July 20, 2026 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Alvarez & Marsal Canada Inc., a licensed insolvency trustee, acting under estate number 24-3400057 in Alberta. The creditor list filed with the notice shows Secure Property Development and Investment PLC as the largest listed unsecured creditor at $844,173.02, followed by PA Consulting Services Ltd at $376,023.63, Weixing Chen at $263,600.00, Edmonton Electric at $242,052.04 and Monarch Equities Inc at $197,291.42. The list also carries many individual creditors and trade suppliers, and the Workers' Compensation Board-Alberta at $1,434.55.
Proceedings AIAsk this case — answers cite the filings
Case updates21 dated entries · 3 undated
#Filing
Certificate for the Notice of Intention – AdvEn Industries Inc was filed. Court file 25-3400059.
Source: Certificate for the Notice of Intention – AdvEn Industries Inc.
#Filing
The two companies filed their notice of intention on July 20, 2026 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Alvarez & Marsal Canada Inc. as trustee.
Source: Certificate for the Notice of Intention – AdvEn Inc.
AnalysisAll insights
Case update
AdvEn: a priming interim facility, and the rival lender's appeal
On August 19, Justice Dunlop approved a US$650,000 interim facility for AdvEn Inc. and AdvEn Industries Inc. from 2841034 Alberta Ltd., a company incorporated on August 5 whose two directors had been directors of secured creditor 2815793 Alberta Ltd., and ranked its charge ahead of that creditor's security; 2815793 Alberta Ltd., which had offered US$800,000 at 7.5%, has appealed with Secure Property Development & Investment PLC.
Parties
Debtor
AdvEn Inc. & AdvEn Industries Inc.
Proposal trustee
Alvarez & Marsal
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Convertible Noteholders (various investors, 10% senior secured convertible promissory notes)Series of 10% senior secured convertible promissory notes; approximately US$4 million raised between December 2021 and September 2022; any security pledged is subject to Proposal Trustee's security review — All Convertible Notes have matured and AdvEn is in default; certain noteholders entered extension/amendment agreements in 2025 which have also matured; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026 — debtor: AdvEn Inc. (including through predecessor Nano Innovations Inc.) · as of 30 Apr 2026 | $10.5M | First Report of the Proposal Trustee |
| 4 | Secured | Excelsior Management LimitedGeneral Security Agreements dated for reference December 18, 2025 over all present and after-acquired personal property of the Companies, excluding intellectual property; secured convertible promissory note principal amount £450,000 — Note due December 18, 2026; amount is aggregate outstanding including accrued and unpaid interest as of April 30, 2026; security validity/enforceability under Proposal Trustee review — debtor: AdvEn Inc. and AdvEn Industries Inc. · as of 30 Apr 2026 | $900K | First Report of the Proposal Trustee |
| 4 | Secured | Secure Property Development & Investment Plc (SPDI)Two General Security Agreements dated August 5, 2025 and November 2025 over all present and after-acquired personal property of AdvEn Industries, excluding intellectual property; secured promissory notes in aggregate principal amount of €500,000 — Both SPDI Notes have matured; amount is aggregate outstanding including accrued and unpaid interest as of April 30, 2026; security validity/enforceability under Proposal Trustee review — debtor: AdvEn Industries Inc. · as of 30 Apr 2026 | $800K | First Report of the Proposal Trustee |
| 4 | Secured | 2815793 Alberta Ltd.as of 2026-07-20 (advances made before this date) — General Security Agreement dated May 19, 2026 over all present and after-acquired real and personal property of each Applicant; PPSA registration July 9, 2026 against each of AdvEn Inc. and AdvEn Industries Inc.; grid promissory note maximum principal amount US$900,000 (per First Report, para 22(c)) — Trustee's First Report describes this note only as up to US$900,000 maximum principal (facility limit, not stated balance); counsel letter for the creditor states exact outstanding indebtedness as USD 552,445 as of/before July 20, 2026 - used as | $552K USD | First Report of the Proposal Trustee |
| 4 | Secured | AdvEn Inc. UK PLC (AdvEn UK)Convertible secured promissory note dated November 15, 2025, principal amount US$200,000; security pledged subject to Proposal Trustee's security review — Listed under 'Other Unsecured Noteholders' heading in document despite note being described as secured; note matured June 30, 2026; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026; AdvEn UK stated to be an unrelated company — debtor: AdvEn Inc. · as of 30 Apr 2026 | $300K | First Report of the Proposal Trustee |
| 4 | Secured | 2841034 Alberta Ltd. (Interim Lender)Proposed Interim Lender's Charge over Property, third priority, to secure obligations under Interim Financing Agreement up to maximum US$650,000 — Post-filing DIP financing charge, not a pre-filing secured claim; objecting secured creditor (2815793 Alberta Ltd./SPDI) alleges Interim Lender is not at arm's length - directors Michael Khorassani and Jacques Demers were then directors of the DIP LenderCo (2815793 Alberta Ltd.); related party concern raised — debtor: AdvEn Inc. and AdvEn Industries Inc. · as of 7 Aug 2026 | — | First Report of the Proposal Trustee |
| 8 | Unsecured | Secure Property Development and Investment PLCas of NOI filing date — largest listed unsecured creditor — debtor: AdVen Industries Inc. | $844K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | PA Consulting Services Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $376K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Chen, Weixingas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $264K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Edmonton Electricas of NOI filing date — debtor: AdVen Industries Inc. | $242K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Monarch Equities Incas of NOI filing date — debtor: AdVen Industries Inc. | $197K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Metcorr Engineeringas of NOI filing date — debtor: AdVen Industries Inc. | $145K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Yixingshi Banshida Furnace Industry Co., Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $130K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Kallar Welding and Fabricationas of NOI filing date — debtor: AdVen Industries Inc. | $123K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | BKC Consultants Private Limitedas of NOI filing date — debtor: AdVen Industries Inc. | $115K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Ecoro B Vas of NOI filing date — debtor: AdVen Industries Inc. | $63.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Grzegorz Ombachas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $62.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Field LLP · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $62.1K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Xiaojing Liuas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $60K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | DTS Advance Logistics Incas of NOI filing date — debtor: AdVen Industries Inc. | $55.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Yuan, Si(Ryan)as of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $44.6K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Bitcan Geosciences & Engineering Inc.as of NOI filing date — debtor: AdVen Industries Inc. | $44.4K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Concept Controls Inc. · in 2 casesas of NOI filing date — debtor: AdVen Industries Inc. | $43.9K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Atlas Copco Compressors Canada · in 11 casesas of NOI filing date — debtor: AdVen Industries Inc. | $41.2K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Yingnan Zhangas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $40K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Fortin, Robert Anthonyas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $31.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | MNP LLP · in 63 casesas of NOI filing date — debtor: AdVen Industries Inc. | $31K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Daebo Magnetic Co., Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $25.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Element Steel Inc.as of NOI filing date — debtor: AdVen Industries Inc. | $21.7K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Guangdong Kangpu Precisio Technology Co.as of NOI filing date — debtor: AdVen Industries Inc. | $21.2K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | EPCOR · in 49 casesas of NOI filing date — debtor: AdVen Industries Inc. | $20.6K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Rogers, Elvalas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $18.6K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Donald Nicholsonas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $18.4K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Loadstar Dispatchers (1963) Ltd. · in 2 casesas of NOI filing date — debtor: AdVen Industries Inc. | $17.5K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Premier Fire and Flood Restoration Inc.as of NOI filing date — debtor: AdVen Industries Inc. | $17.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Terrawerx Mechanical Ltd · in 2 casesas of NOI filing date — debtor: AdVen Industries Inc. | $17K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | 1367054 Alberta Ltd.as of NOI filing date — debtor: AdVen Industries Inc. | $15K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Robert Half · in 10 casesas of NOI filing date — debtor: AdVen Industries Inc. | $15K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Yanguang Yuanas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $14.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Linmac LLP (Lindsey MacCarthy LLP)as of NOI filing date — debtor: AdVen Industries Inc. | $14.5K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Wolseley Industrial Canada Inc. · in 4 casesas of NOI filing date — debtor: AdVen Industries Inc. | $14.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Canstal Heat Traceas of NOI filing date — debtor: AdVen Industries Inc. | $14.2K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | AFE Consulting Ltd.as of NOI filing date — debtor: AdVen Industries Inc. | $12.5K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Guoxing Purif Technology Co., Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $11.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Vertical Bridge HRas of NOI filing date — debtor: AdVen Industries Inc. | $10.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Foremost Universal LP · in 2 casesas of NOI filing date — debtor: AdVen Industries Inc. | $10.6K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Spartan Controls Ltd · in 6 casesas of NOI filing date — debtor: AdVen Industries Inc. | $10.2K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Air Liquide Canada Inc. · in 78 casesas of NOI filing date — debtor: AdVen Industries Inc. | $9.47K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Ampersand GP Ltd.as of NOI filing date — debtor: AdVen Industries Inc. | $8.8K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | First Insurance Funding of Canada · in 12 casesas of NOI filing date — debtor: AdVen Industries Inc. | $8.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Gurpreet Twanaas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $7.3K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Linde Canada Inc. · in 51 casesas of NOI filing date — debtor: AdVen Industries Inc. | $7.22K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Ron Babyakas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $6K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Hayward Gordon ULC · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $5.45K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Pawkey's Welding Inc.as of NOI filing date — debtor: AdVen Industries Inc. | $4.85K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Uline Canada Corporation · in 71 casesas of NOI filing date — debtor: AdVen Industries Inc. | $3.94K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Mark Wilfuras of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $3.75K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Prime Boiler Services · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $3.23K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Economopoulos, Constantineas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $3.09K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | FenceLine Rentals Ltd. · in 4 casesas of NOI filing date — debtor: AdVen Industries Inc. | $3.08K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | HUB International Insurance Brokers · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $3.02K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | iDeals Group GmbHas of NOI filing date — debtor: AdVen Industries Inc. | $2.89K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Century Power Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $2.31K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | University of Albertaas of NOI filing date — debtor: AdVen Industries Inc. | $2.23K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Microsoft Corporation · in 17 casesas of NOI filing date — debtor: AdVen Industries Inc. | $2.06K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Seven Mechanical Services Ltdas of NOI filing date — debtor: AdVen Industries Inc. | $1.84K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Aguillon, Miles Rechielas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $1.66K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | ParkChampas of NOI filing date — debtor: AdVen Industries Inc. | $1.53K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Workers' Compensation Board-Albertaas of NOI filing date — regulatory quasi-debt — debtor: AdVen Industries Inc. | $1.43K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | AGAT Laboratories · in 12 casesas of NOI filing date — debtor: AdVen Industries Inc. | $1.32K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Leduc County · in 8 casesas of NOI filing date — debtor: AdVen Industries Inc. | $1.17K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Shaw Communications · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $1.03K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Dave Olynychas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $1.01K | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Nisku Nut & Bolt · in 3 casesas of NOI filing date — debtor: AdVen Industries Inc. | $991 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Wang, Tianfeias of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $873 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Binex Line Corp. Vancouveras of NOI filing date — debtor: AdVen Industries Inc. | $863 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | GreenGeeks LLCas of NOI filing date — debtor: AdVen Industries Inc. | $816 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Kennelli Springsas of NOI filing date — debtor: AdVen Industries Inc. | $709 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Mallory Huntas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $682 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | WAK MFG Consultingas of NOI filing date — debtor: AdVen Industries Inc. | $600 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Kendall, Westonas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $582 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Nisku Business Associationas of NOI filing date — debtor: AdVen Industries Inc. | $425 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | McMillan LLP · in 30 casesas of NOI filing date — debtor: AdVen Industries Inc. | $412 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Chunhua Xuas of NOI filing date — individual creditor — debtor: AdVen Industries Inc. | $400 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Alberta Boilers Safety Association · in 9 casesas of NOI filing date — debtor: AdVen Industries Inc. | $396 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Digitex Canada Inc · in 2 casesas of NOI filing date — debtor: AdVen Industries Inc. | $319 | Notice to Creditors – AdvEn Industries Inc. |
| 8 | Unsecured | Direct Energy · in 38 casesas of NOI filing date — debtor: AdVen Industries Inc. | $277 | Notice to Creditors – AdvEn Industries Inc. |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale processAs stated in the filings
Sale process approved — SISP approved to solicit interest in acquisition of or investment in the Property/BusinessOrder (SISP & Stay Extension) · 19 Aug 2026
Estate financialsReported figures — never derived
Total assets at filing$11.4M
Total liabilities at filing$27.1M
As at 31 Dec 2025 · per unaudited financial statements · AdvEn Inc. (entity level; AdvEn Industries Inc. is wholly owned subsidiary) — Primary asset is property, plant and equipment of approximately $8.8 million (lab equipment, production equipment, computer and office equipment, leasehold improvements, assets under construction, customized production equipment); figures are book value, not audited
Documents
24 filings
| Date | Document | File |
|---|---|---|
| Report of the Proposal Trustee | ||
| Affidavit of Brenda Lewis-Besler - Affidavit | ||
| Application (September 14, 2026) | ||
| Memorandum of Argument (September 14, 2026) | ||
| Affidavit of Brenda Lewis-Besler - Exhibits A-M | ||
| Affidavit of Jacques Demer | ||
| Affidavit of Kary Heikoop | ||
| Affidavit of Service | ||
Application (August 19, 2026)
| ||
| Civil Notice of Appeal (SPDI & 2815793 Alberta Ltd.) | ||
| Memorandum of Argument(Leave Application) | ||
Order (SISP & Stay Extension)
| ||
| Affidavit of Amanda Urban | ||
First Report of the Proposal Trustee
| ||
| Affidavit of Brenda Lewis-Besler - Exhibits N-J | ||
| Transcript (Ingo Mueller Cross) | ||
| Notice to Creditors – AdvEn Inc. | ||
Notice to Creditors – AdvEn Industries Inc.
| ||
Certificate for the Notice of Intention – AdvEn Inc.
| ||
Certificate for the Notice of Intention – AdvEn Industries Inc.
| ||
| Affidavit of Ingo Mueller | ||
| Application (Leave Declaration) | ||
| Bench Brief of the Applicants | ||
| Book of Authorities | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “AdvEn Inc. & AdvEn Industries Inc.” (NOI), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/adven-inc-adven-industries-inc